Agnico Eagle Mines (TSE:AEM) Downgraded to “Hold” Rating by Erste Group Bank

Erste Group Bank cut shares of Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. TD Securities increased their target price on Agnico Eagle Mines from C$241.00 to C$251.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. set a C$337.00 price objective on Agnico Eagle Mines and gave the company a “neutral” rating in a research note on Thursday, January 29th. National Bank Financial raised their target price on shares of Agnico Eagle Mines from C$300.00 to C$320.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Royal Bank Of Canada downgraded shares of Agnico Eagle Mines from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Finally, Stifel Nicolaus increased their price target on shares of Agnico Eagle Mines from C$300.00 to C$350.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$272.60.

Agnico Eagle Mines Price Performance

AEM stock opened at C$311.56 on Wednesday. The firm has a market cap of C$155.88 billion, a P/E ratio of 35.16, a P/E/G ratio of 22.97 and a beta of 1.54. The firm’s fifty day moving average is C$267.66 and its 200 day moving average is C$236.48. Agnico Eagle Mines has a 52 week low of C$132.96 and a 52 week high of C$313.43. The company has a debt-to-equity ratio of 7.88, a quick ratio of 0.89 and a current ratio of 1.75.

Agnico Eagle Mines (TSE:AEM) (NYSE:AEM) last posted its quarterly earnings results on Friday, February 13th. The company reported C$3.71 earnings per share (EPS) for the quarter. Agnico Eagle Mines had a net margin of 12.86% and a return on equity of 5.05%. The business had revenue of C$4.89 billion during the quarter. Research analysts predict that Agnico Eagle Mines will post 5.4966052 earnings per share for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 15th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.60 dividend on an annualized basis and a yield of 0.5%. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 18.06%.

Insider Buying and Selling at Agnico Eagle Mines

In other news, insider Ammar Al-Joundi sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of C$243.40, for a total value of C$4,868,000.00. Following the completion of the sale, the insider directly owned 54,917 shares of the company’s stock, valued at approximately C$13,366,797.80. This trade represents a 26.70% decrease in their position. Also, insider James Porter sold 3,000 shares of Agnico Eagle Mines stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of C$247.42, for a total transaction of C$742,260.00. Following the sale, the insider directly owned 7,734 shares in the company, valued at C$1,913,546.28. The trade was a 27.95% decrease in their position. Insiders own 0.08% of the company’s stock.

About Agnico Eagle Mines

Agnico Eagle Mines is a gold miner operating mines in Canada, Mexico, and Finland. It also owns 50% of the Canadian Malartic mine. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines on line in rapid succession in the following years. The company produced more than 1.7 million gold ounces in 2020. Agnico Eagle is focused on increasing gold production in lower-risk jurisdictions.